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Stephen C. Piepgrass

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Stephen leads the firm’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group. He focuses his practice on enforcement actions, investigations, and litigation. Stephen primarily represents clients engaging with, or being investigated by, state attorneys general and other state or local governmental enforcement bodies, including the CFPB and FTC, as well as clients involved with litigation, with a particular focus on heavily regulated industries. He also has experience advising clients on data and privacy issues, including handling complex investigations into data incidents by state attorneys general other state and federal regulators. Additionally, Stephen provides strategic counsel to Troutman Pepper’s Strategies clients who need assistance with public policy, advocacy, and government relations strategies.

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On November 18, two prominent sports wagering and fantasy sports operators announced that they are leaving the American Gaming Association (AGA). The AGA is the leading trade group for casinos, gaming manufacturers, and sportsbooks. The split follows the AGA’s recent announcement of its firm stance against “prediction markets” and a forthcoming resolution to exclude companies that offer them. Prediction markets include platforms that allow individuals to trade on the outcomes of future events — whether sports-related or not.

In this episode of Regulatory Oversight, Stephen Piepgrass is joined by RISE partner Chris Carlson and New Jersey First Assistant Attorney General (AG) Lyndsay Ruotolo for a deep dive into the unique structure, scope, and impact of the New Jersey Office of the Attorney General (OAG). Lyndsay shares how her career in prosecution, county leadership, and federal service shaped a broad, modern view of public safety — one that spans criminal justice, consumer protection, health, and community well-being.

In this episode of Regulatory Oversight, Stephen Piepgrass is joined by Zack Condry, co-founder of Watermark Strategies, to analyze the evolving landscape of crisis management and the critical role of strategic communication in navigating complex issues. They explore effective communication strategies, public relations, and the evolving role of AI in managing crises. Zack shares insights from his extensive experience in corporate communications and public affairs, from his background managing political campaigns to his current work developing digital strategies for high-profile clients.

In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight, Chris Willis is joined by Joseph DeFazio, Bill Foley, and Michael Yaghi to discuss the implications of New York’s FAIR Act, a significant amendment to the state’s UDAAP statute. The FAIR Act aims to broaden consumer protection by lowering the threshold for legal action against unfair and abusive business practices. With expanded enforcement powers for the state, this legislation could dramatically increase litigation risks for financial services companies operating in New York if the governor signs the bill. Tune in to understand how this legislative shift might affect the industry and what steps businesses can take to prepare.

In this crossover episode of The Good Bot and Regulatory Oversight, Brett Mason, Gene Fishel, and Chris Carlson discuss the latest state laws targeting AI, especially in health care. They break down new legislation in Colorado, Utah, California, and Texas, highlighting differences in scope and enforcement. They also cover how state attorneys general are using consumer protection and anti-discrimination laws to regulate AI, even in states without AI-specific statutes.

Spencer Churchill, an associate based in Troutman Pepper Locke’s Washington, D.C. office, has been appointed to serve as a deputy assistant attorney general in the Department of Justice’s (DOJ) Office of Legal Counsel (OLC). In his new position, he will advise on some of the most important and complex legal questions surrounding executive power and agency action. The OLC counsels the president and executive branch agencies on the parameters of their constitutional and statutory authority, reviews all executive orders, drafts legal opinions of the attorney general, and comments on the constitutionality of pending legislation.

In this episode of our special Regulatory Oversight: Solicitors General Insights series, RISE Counsel Jeff Johnson, a former deputy solicitor general in the Missouri Attorney General’s office, welcomes Michigan Solicitor General Ann Sherman and New Jersey Solicitor General Jeremy Feigenbaum. They explore the art of oral advocacy, sharing insights into how they effectively present cases. The conversation also addresses state sovereignty, emphasizing the importance of allowing states to experiment with policies and the impact of bipartisan issues, particularly those that resonate most effectively in front of SCOTUS.

In this episode of Regulatory Oversight, Stephen Piepgrass, Michael Yaghi, and Dan Waltz conclude their two-part series on the Better Business Bureau (BBB). The group discusses strategies for managing and improving BBB ratings for businesses, while examining how consumer complaints impact potential regulatory actions. They emphasize the importance of addressing these consumer complaints promptly, highlighting the need for effective training and streamlining complaint handling processes within companies to prevent issues from being overlooked.

In this episode of Regulatory Oversight, we kick off a two-part series on the Better Business Bureau (BBB). Stephen Piepgrass, Michael Yaghi, and Dan Waltz explore the significance of the BBB for businesses, particularly in relation to regulatory scrutiny and consumer trust. The conversation begins with an overview of the BBB as a quasi-governmental agency, emphasizing its role in consumer complaints and how these are perceived by regulators, including state attorneys general.

On June 25, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with Coinme, Inc., a cryptocurrency “ATM” operator, for noncompliance with the California’s Consumer Financial Protection Law (CCFPL) and Digital Financial Assets Law (DFAL). The consent order marks a significant milestone in California’s regulatory efforts because it represents the conclusion of the agency’s first enforcement action under the DFAL.